IEA Reduces Crude Demand Forecast as Economic Outlook Weakens

Crude oil prices remained under pressure in the European session as investors awaited the Greek election on June 17 and the G-20 meeting on June 18/19. The market hoped the outcome of the election would clear the uncertainty in the Eurozone debt problems while G-20 leaders would help resolve the crisis.

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IEA Reduces Crude Demand Forecast as Economic Outlook Weakens